Mr. Tom Palmer reports

NEWMONT COMPLETES ITS NON-CORE DIVESTITURE PROGRAM WITH THE SALE OF AKYEM AND PORCUPINE

Newmont Corp. has finalized the previously disclosed sales of its Akyem operation in Ghana and its Porcupine operation in Canada. With these transactions now closed, the company has completed the divestiture program announced in February, 2024.

"Today, I am pleased to announce the successful completion of our non-core asset divestiture program with the sale of Akyem and Porcupine, generating total after-tax cash proceeds of approximately $850-million before closing adjustments," said Tom Palmer, Newmont's president and chief executive officer. "This is a significant milestone for Newmont, as we have now divested all six of our non-core operations from the program announced in early 2024. With the cash proceeds received this year, we remain committed to continuing to strengthen our balance sheet and return capital to shareholders through ongoing share repurchases."

Total gross proceeds from announced divestitures are expected to total up to $4.3-billion, which includes $3.8-billion from non-core divestitures and $527-million from the sale of other investments.

Porcupine early warning disclosure

Under the terms of Newmont's sale of the Porcupine operation in Ontario, Canada, the consideration received included 119,716,667 common shares of Discovery in the capital of Discovery Silver Corp.

The consideration shares are held by Goldcorp Inc., a wholly owned subsidiary of Newmont. As a result of the closing, Newmont, which did not hold any common shares of Discovery prior to the transaction, now beneficially owns shares representing approximately 15 per cent of Discovery's issued and outstanding common shares.

Newmont will evaluate its investment in Discovery from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease its shareholdings as circumstances require through market transactions, private agreements or otherwise.

This press release is issued pursuant to the early warning provisions of Canadian securities legislation. To obtain a copy of the early warning report filed by Newmont under National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, please contact Mr. Backhouse at 1-303-837-5002 or investor.relations@newmont.com.

Newmont's address is 6900 E Layton Ave., suite 700, Denver, Colo., 80237. Discovery is listed on the Toronto Stock Exchange and its address is 55 University Ave., suite 701, Toronto, Ont., Canada, M5J 2H7.

About Newmont Corp.

Newmont is the world's leading gold company and a producer of copper, zinc, lead and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favourable mining jurisdictions in Africa, Australia, Latin America and Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Founded in 1921, the company has been publicly traded since 1925.

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